U.S. stocks close at two-month high on cliff hopes

[admin]

U.S. stocks close at two-month high on cliff hopes
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- U.S. stocks extended gains into a second session Tuesday, rising on signs of progress on Capitol Hill in reaching an accord to avoid steep spending cuts and tax increases next year. "The biggest tax being levied on the American people right now is the uncertainty tax, and President Obama and House Republicans now have the opportunity to lower it considerably," said David Kelly, chief market strategist at J.P. Morgan Funds. The Dow Jones Industrial Average rose 115.57 points, or 0.9%, to 13,350.96. The S&P 500 index advanced 16.43 points, or 1.2%, to 1,446.79. The Nasdaq Composite added 43.93 points, or 1.5%, to 3,054.53.